C
ontinental Properties is building Authentix South Elgin, a 336-unit apartment complex at 1300 North Lancaster Road in South Elgin. The garden-style development will offer studio to three-bedroom units with rents ranging from $1,300 to $2,450. It's designed for renters who don't plan to buy homes soon but want convenient options.

    The suburb west of Chicago is seeing high demand for apartments, according to Nancy Hill, Community Development Director. "We think the market is strong for these types of projects," she said. Residential development supports local businesses and infrastructure improvements in South Elgin.

    Authentix will feature a pool, fitness center, dog park with pet spa, and pre-leasing begins next spring with some units ready by late summer. Continental's previous project, The Springs at South Elgin, has been successful since its completion six years ago, inspiring the developer to invest more in the area.

    The suburban Chicago apartment market is thriving due to high demand and a predictable property tax environment. RentCafe ranked suburban Chicago as one of the top multifamily markets in the country, driven by strong rental demand and limited supply. Despite challenges like high interest rates and construction costs, investors are willing to pay premium prices for multifamily assets in suburban areas.